Market opens flattish to start the new and shortened week. It’s also Tax Day. Momentum is strong heading into Earnings Season. Financials jumped off the JP Morgan report on Friday. Goldman and Cit didn’t say anything today that will cloud the less bad scenario for the Banks. Chevron triggered M&A excitement with its announcement of the Anadarko acquisition. That kickstarted a rally in Energy E&P that very well might have legs. If Energy and Financials take over leadership, this Market could have new, all-time highs ahead. Both sectors have underperformed over an extended period, but that could change. Progress on Trade continues to be reported. President Trump continues to rail on the Fed, complicating the already complicated situation. It really threatens the independence of the central bank. The IMF continued to caution sluggishness for the global economy in 2019, but sees things firming next year. Interest rates are flat while the Dollar declines ever-so-slightly.
Have a great morning,